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NASDAQ Private Market buys VC-backed SecondMarket

NASDAQ Private Market, a NASDAQ subsidiary, has acquired SecondMarket Solutions Inc., a provider of software that aims to streamline private securities transactions.

Financial terms were not disclosed.

NASDAQ is now the full owner of New York-based SecondMarket. The exchange said it also acquired SharesPost Inc‘s minority stake in SecondMarket.

Bill Siegel, CEO of SecondMarket, will lead the combined business.

According to SecondMarket, which was founded in 2004, over $2.5 billion in transactions have been made using the company’s software since 2013.

In November 2011, SecondMarket secured $15 million in funding from The Social+Capital Partnership, as previously reported by PE HUB. Other backers in earlier rounds, reports Crunchbase, included Temasek Holdings and FirstMark Capital.

Photo courtesy of Stocksnapper/